Recent earnings warnings from large multinationals such as FedEx Corp, Caterpillar Inc and Hewlett-Packard Co which have cited weakness in Europe and China have left investors cautious about the prospects for corporate profits.

health insurer by market value also declared its shares undervalued and offered no negative surprises ae" relief for investors who have endured a spate of earnings warnings this year from the industry.

The conference kicked off with an address by Lynn Turner, chief accountant for the Securities and Exchange Commission, who argued that a rising number of earnings warnings in recent quarters actually argue that investors are gaining increased transparency.

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